Financials Mitsubishi Electric Corporation

Equities

6503

JP3902400005

Consumer Goods Conglomerates

Delayed Japan Exchange 00:54:46 2024-06-19 EDT 5-day change 1st Jan Change
2,494 JPY -0.99% Intraday chart for Mitsubishi Electric Corporation -5.01% +24.76%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,051,932 2,863,719 3,618,025 2,977,377 3,332,868 5,261,973 - -
Enterprise Value (EV) 1 2,836,146 2,703,163 3,216,050 2,579,659 3,087,756 4,874,785 4,768,125 4,587,751
P/E ratio 13.5 x 12.9 x 18.7 x 14.8 x 15.6 x 18.5 x 17.4 x 15.3 x
Yield 2.81% 3% 2.13% 2.84% 2.53% 1.99% 2.09% 2.3%
Capitalization / Revenue 0.68 x 0.64 x 0.86 x 0.67 x 0.67 x 1 x 0.99 x 0.96 x
EV / Revenue 0.63 x 0.61 x 0.77 x 0.58 x 0.62 x 0.93 x 0.9 x 0.84 x
EV / EBITDA 6.04 x 5.73 x 7.13 x 5.57 x 6.16 x 9.04 x 7.84 x 6.83 x
EV / FCF 97.3 x 13.3 x 8.62 x 15.4 x 170 x 15.2 x 18.6 x 17.1 x
FCF Yield 1.03% 7.51% 11.6% 6.49% 0.59% 6.59% 5.38% 5.83%
Price to Book 1.27 x 1.18 x 1.31 x 1 x 1.03 x 1.4 x 1.36 x 1.31 x
Nbr of stocks (in thousands) 2,145,471 2,145,108 2,145,286 2,111,615 2,111,415 2,088,499 - -
Reference price 2 1,422 1,335 1,686 1,410 1,578 2,520 2,520 2,520
Announcement Date 19-04-26 20-05-11 21-04-28 22-04-28 23-04-28 24-04-26 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,519,921 4,462,500 4,191,400 4,476,700 5,003,600 5,257,914 5,292,996 5,483,585
EBITDA 1 469,369 471,679 451,341 462,944 501,207 539,207 608,448 672,077
EBIT 1 290,477 259,600 230,100 252,000 262,300 328,525 379,538 434,129
Operating Margin 6.43% 5.82% 5.49% 5.63% 5.24% 6.25% 7.17% 7.92%
Earnings before Tax (EBT) 1 315,958 281,900 258,700 279,600 292,100 365,853 411,110 462,573
Net income 1 226,648 221,800 193,100 203,400 213,900 284,949 302,691 343,023
Net margin 5.01% 4.97% 4.61% 4.54% 4.27% 5.42% 5.72% 6.26%
EPS 2 105.6 103.4 90.03 95.41 101.3 135.7 145.2 164.7
Free Cash Flow 1 29,149 203,001 373,199 167,504 18,178 321,360 256,716 267,508
FCF margin 0.64% 4.55% 8.9% 3.74% 0.36% 6.11% 4.85% 4.88%
FCF Conversion (EBITDA) 6.21% 43.04% 82.69% 36.18% 3.63% 59.6% 42.19% 39.8%
FCF Conversion (Net income) 12.86% 91.52% 193.27% 82.35% 8.5% 112.78% 84.81% 77.99%
Dividend per Share 2 40.00 40.00 36.00 40.00 40.00 50.00 52.69 57.86
Announcement Date 19-04-26 20-05-11 21-04-28 22-04-28 23-04-28 24-04-26 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 S1 2025 Q3 2025 Q4 2025 S2
Net sales 1 2,182,528 2,279,972 1,902,000 2,289,376 1,071,900 2,138,300 1,042,800 1,295,400 2,338,400 1,067,700 1,271,800 2,339,500 1,225,670 1,438,000 2,664,100 1,220,300 1,318,100 2,538,400 1,243,929 1,475,585 2,719,514 1,231,777 1,321,877 2,550,000 1,279,115 1,463,880 2,780,000
EBITDA 1 - - - - 133,038 - 104,857 96,220 - 82,710 98,343 - 137,526 182,628 - 107,914 124,095 - 140,274 166,924 - 118,707 121,615 - 150,448 229,303 -
EBIT 1 114,230 145,370 61,300 168,800 55,100 137,800 52,300 61,800 114,200 33,900 46,500 80,500 82,722 99,100 181,800 61,000 74,800 135,800 86,461 106,264 192,725 70,282 81,887 145,000 94,404 148,123 245,000
Operating Margin 5.23% 6.38% 3.22% 7.37% 5.14% 6.44% 5.02% 4.77% 4.88% 3.18% 3.66% 3.44% 6.75% 6.89% 6.82% 5% 5.67% 5.35% 6.95% 7.2% 7.09% 5.71% 6.19% 5.69% 7.38% 10.12% 8.81%
Earnings before Tax (EBT) 1 124,022 157,878 75,600 183,100 58,800 148,300 58,800 72,400 131,300 46,800 56,200 103,100 85,959 103,041 189,000 76,800 82,900 159,700 89,214 116,939 206,153 87,000 91,500 - 103,750 152,750 -
Net income 1 91,253 130,547 48,200 144,869 43,000 104,800 43,600 54,900 98,600 33,400 41,300 74,800 64,518 74,582 139,100 57,800 62,300 120,200 65,772 98,977 164,749 57,615 62,416 119,000 76,058 119,768 196,000
Net margin 4.18% 5.73% 2.53% 6.33% 4.01% 4.9% 4.18% 4.24% 4.22% 3.13% 3.25% 3.2% 5.26% 5.19% 5.22% 4.74% 4.73% 4.74% 5.29% 6.71% 6.06% 4.68% 4.72% 4.67% 5.95% 8.18% 7.05%
EPS 2 42.54 60.87 22.48 67.55 20.12 48.94 20.50 25.97 46.47 15.86 19.57 35.43 30.56 35.31 65.87 27.41 29.67 57.08 31.43 47.23 78.66 26.67 31.25 - 37.02 55.78 -
Dividend per Share 2 14.00 26.00 10.00 26.00 14.00 14.00 - 26.00 26.00 - 14.00 14.00 - 26.00 26.00 - 20.00 20.00 - 30.00 30.00 - 20.00 - - 30.00 -
Announcement Date 19-10-31 20-05-11 20-10-29 21-04-28 21-10-28 21-10-28 22-02-02 22-04-28 22-04-28 22-07-28 22-10-28 22-10-28 23-02-02 23-04-28 23-04-28 23-07-31 23-10-31 23-10-31 24-02-05 24-04-26 24-04-26 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 215,786 160,556 401,975 397,718 245,112 370,748 493,848 674,223
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 29,149 203,001 373,199 167,504 18,178 321,360 256,716 267,509
ROE (net income / shareholders' equity) 9.7% 9.2% 7.5% 7.1% 6.9% 8.2% 7.96% 8.86%
ROA (Net income/ Total Assets) 7.33% 6.43% 5.62% 5.65% 5.47% 6.23% 5.16% 5.57%
Assets 1 3,091,993 3,447,504 3,435,705 3,601,913 3,913,175 4,575,759 5,869,290 6,157,077
Book Value Per Share 2 1,119 1,133 1,284 1,409 1,534 1,791 1,856 1,921
Cash Flow per Share 2 189.0 202.0 193.0 194.0 214.0 236.0 250.0 279.0
Capex 1 188,042 192,833 168,920 134,337 151,117 175,756 248,678 234,324
Capex / Sales 4.16% 4.32% 4.03% 3% 3.02% 3.34% 4.7% 4.27%
Announcement Date 19-04-26 20-05-11 21-04-28 22-04-28 23-04-28 24-04-26 - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
2,520 JPY
Average target price
2,822 JPY
Spread / Average Target
+12.00%
Consensus
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